In recent decades, it’s become more and more popular for couples to complete a prenuptial agreement before they get married. A prenuptial agreement is a document that states each partner’s obligations and rights to his or her spouse’s assets and property in the event of a death or divorce.
In South Carolina, the rules regarding prenuptial agreements are written into the state’s version of the Uniform Premarital Agreement Act. This Act was first introduced to the National Conference of Commissioners in 1983, and South Carolina adopted its own version in 2009. Currently, about half of the states in the country have adopted their own version of the Act.
What Does a Prenuptial Agreement Protect?
A prenuptial agreement can include requirements for both spouses regarding finances and property. Some examples of common items to be included in a prenuptial agreement are as follows:
- How much of each individual’s estate his or her spouse may inherit following his or her death. Generally, one’s spouse is entitled to inherit all of his or her partner’s estate. With a prenuptial agreement, an individual may divert some or all of his or her estate to the recipient of his or her choosing. This is very important for individuals who have children from previous marriages that they want to provide for after their deaths.
- Whether either partner is entitled to spousal support following a divorce. If the couple chooses, they may also include how much support the receiving spouse can receive and the length of time following the divorce that he or she may receive it. A couple may also stipulate the circumstances under which the paying partner’s spousal support obligation is terminated, such as if the receiving spouse remarries or cohabitates with a new partner. Couples may also waive their right to seek spousal support following a divorce through a prenuptial agreement.
- The division of the couple’s property in the event of a divorce. This is an important clause for any couple with considerable real estate assets or a business that they own or operate.
What Can’t a Prenuptial Agreement Do?
A prenuptial agreement cannot stipulate anything about child support or child custody following a divorce or death. When a couple marries, there is no guarantee about the number of children they’ll actually have or the financial circumstances regarding the children at the time of their divorce.
A prenuptial agreement also cannot violate state or federal law in any way.
An experienced marital attorney can help you draft a prenuptial agreement by working out what you can and can not include. Usually, any requirement that is unenforceable, such as requirements for a partner’s appearance, career, and frequency of sex can not be enforced and thus should not be included in a prenuptial agreement.
Matrimonial Attorneys Can Help
Contact the McGrath Law Firm at 843-606-2755 to discuss your questions and concerns with a marital attorney before you get married. It isn’t unromantic or defeatist to seek a prenuptial agreement – it’s pragmatic.